Ruling on an appeal filed by an individual, the Agra bench of ITAT said the order would act as a precedent for all similar cases.
Government think tank Niti Aayog has suggested 100 per cent income tax exemption for donations and provision of working capital loans with lower interest rates for not-for-profit hospitals to strengthen healthcare services in India.
The standard tax rate for states has come down sharply compared to the VAT regime. Merging the present multi-rate system into a single rated one would further reduce revenue
In value terms, e-way bills generated in the first 20 days were worth Rs 10.58 lakh crore in June as against Rs 8.79 lakh crore worth of e-way bills in the first 20 days of May, government data showed.
Law Minister Ravi Shankar Prasad on Friday launched the e-filing portal of the Income Tax Appellate Tribunal (ITAT) here, saying the initiative should be seen as a larger narrative of transformation the country is undergoing through the digital medium.
Payment without interest extension under the Vivad se Vishwas Scheme been granted for two months from June 30 to August 31.
Individuals can now file their tax returns for income earned during the financial year 2020-21 by September 30, deadline for companies is November 30.
Ruling on an appeal filed by an individual, the Agra bench of ITAT said the order would act as a precedent for all similar cases.
If an employee fails to link PAN with Aadhaar card by June 30, the company will not credit their salary from the next month, according to the report
Every individual who is earning is required to pay income tax as per the income tax slab. Certain exemptions are also provided by the government on the tax. However, senior citizens and a very/super senior citizen are granted a higher exemption limit as compared to normal taxpayers.
© 2018 CA Chandan Agarwal. All rights reserved.